First-time real estate investors, and veterans alike, are often unaware of the personal liability that they face when purchasing real property in their individual name. When you own real property personally, any legal action and a potential money judgment against you automatically opens all of your assets up to the risk of being seized to satisfy the judgment taken against you..
In order to mitigate the risk for our clients, our attorneys assist our clients in the formation of Limited Liability Companies (LLC's). An LLC is a business structure whereby the members of the company cannot be held personally liable for the company's debts or liabilities. Essentially, the formation of an LLC for the purpose of owning real property, shields your personal assets from being used to pay any liabilities of the LLC.
We have formed hundreds of LLC's for our clients and would love the opportunity to discuss with you whether forming an LLC for your real estate investments is the right move for you.